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COMPANIA Sudamericana de Vapores SA, Latin America's biggest container shipping company, has posted a net loss of US$38.6 million for 2008, compared with a profit of $117 million the previous year, as the global economic crisis weakens demand for consumer goods. Consequently, CSAV is forecasting important losses this year, and plans to reduce services...
THE proposed amendment to the Transpacific Stabilisation Agreement (TSA) to come into effect this month has been met by opposition by the Federal Maritime Commission (FMC) that believes that discussion between members on capacity goes against antitrust immunity under the US Shipping Act. Those voicing concerns to 14-strong TSA carrier group include th...
HANJIN Shipping's container division operating profit declined 19 per cent in 2008 to KRW89 billion (US$64 million) because of lower freight rates, less cargo, higher fuel prices and a global economic downturn, the company announced. But overall the Korean shipping giant made a KRW3.35 trillion (US$2.4 billion) operating profit from all divisions, dra...
PROFIT made on the Asia-Europe route have been dwindling since last summer with rates on India-US routes showing a 28 per cent fall to US$1,000 (plus BAF) per TEU from $1,400, and further still from Indian ports to Europe dropping to 50 per cent to $450 predictions that it will fall to zero before second April. Such frightening declines in rates mean ...
DUBAI's DP World has reported that it handled more than 27.7 million TEU across its consolidated terminals in 2008, representing an increase of 15 per cent compared to the previous year. A statement from the company headquartered in the United Arab Emirates (UAE) said that excluding the contribution from new terminals, which joined the portfolio durin...
Kawasaki Kisen Kaisha, Ltd. (“K” Line) announced launching of a new service between South Africa and West Africa. The service will enable “K” Line to tap into the growing Asia to West Africa market by linking with its Asia to South Africa service and offer a high quality package to its customers. The new service will be operated independently by “K” L...
Hanjin Shipping said it had net profit of 321.4 billion Korean won ($231.4 million) in 2008 compared to 144.3 billion won in 2007, a 123 percent increase. Revenue was 9.4 trillion won (nearly $6.8 billion) in 2008, about 35 percent higher than the 6.9 trillion won recorded in 2007. The company's container revenue in 2008 was 7.2 ...
LUFTHANSA Cargo plans to introduce shorter working hours for 2,600 staff to cope with the low level of cargo on the global market. Details of the plans are to be worked out as soon as possible with the goal of enabling the company to flexibly adapt staffing capacities to accommodate falling demand, according to a company statement. Lufthansa Cargo...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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